In September 2025, Indonesia's PT Maharaksa Biru Energi Tbk (OASA) and China Tianying (CNTY) established a joint venture to jointly develop the South Tangerang Waste-to-Energy (PLTSa) project.
The project has a total investment of IDR 2.65 trillion (approximately USD 170 million) and an installed capacity of 19.6 MW, and has signed a 27-year Power Purchase Agreement with PT PLN (Persero).
OASA holds a 76% stake through its subsidiary PT Indoplas Energi Hijau, while CNTY holds 24%. OASA plans to issue 634.7 million new shares through a private placement to raise IDR 63.4 billion for project development. After the capital increase, the company's total assets are expected to rise from IDR 7.258 trillion to IDR 7.893 trillion.
This project is an important initiative to promote renewable energy development in Indonesia. The CEO of OASA stated that cooperation with Chinese companies will bring advanced waste treatment technology. The company plans to convene an Extraordinary General Meeting of Shareholders to review the capital increase proposal.
In September 2025, Indonesia's PT Maharaksa Biru Energi Tbk (OASA) and China Tianying (CNTY) established a joint venture to jointly develop the South Tangerang Waste-to-Energy (PLTSa) project.
The project has a total investment of IDR 2.65 trillion (approximately USD 170 million) and an installed capacity of 19.6 MW, and has signed a 27-year Power Purchase Agreement with PT PLN (Persero).
OASA holds a 76% stake through its subsidiary PT Indoplas Energi Hijau, while CNTY holds 24%. OASA plans to issue 634.7 million new shares through a private placement to raise IDR 63.4 billion for project development. After the capital increase, the company's total assets are expected to rise from IDR 7.258 trillion to IDR 7.893 trillion.
This project is an important initiative to promote renewable energy development in Indonesia. The CEO of OASA stated that cooperation with Chinese companies will bring advanced waste treatment technology. The company plans to convene an Extraordinary General Meeting of Shareholders to review the capital increase proposal.